USDT Stablecoins Market Share Surpasses 54% MondayinformationAs CoinGecko shows, it is Tether’s largest stablecoin market share since late November 2021. After the crypto bull market reached its peak
Tether’s increase in market share is largely due to competitors such as Binance USD It is falling sharply since Paxos stopped producing new BUSD tokens due to pressure from the New York Department of Financial Services. BUSD market cap has shrunk below $9 billion from $16 billion.
USDT’s market capitalization has increased by about $5.3 billion this year, rising $3 billion after mid-February. USDC has grown by $3 billion since Paxos’ announcement.
USDT is the most traded cryptocurrency. It has about $27 billion in trading volume over the past 24 hours, according to CoinGecko data.
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